Mobileye Announces Full Exercise of Underwriters' Option to Purchase Additional Shares

Mobileye Global Inc. ("Mobileye") today announced, in connection with its previously announced initial public offering of 41,000,000 shares of its Class A common stock, the full exercise by the underwriters of their option to purchase 6,150,000 additional shares of Class A common stock at the public offering price of $21.00 per share less underwriting discounts and commissions. The issuance and sale of these additional shares closed today.

As previously announced, in addition to the shares of Class A common stock sold in the public offering, General Atlantic purchased 4,761,905 shares of Class A common stock in a private placement at a price per share equal to the initial public offering price, for gross proceeds of $100 million. The sale of these shares will not be registered under the Securities Act of 1933, as amended.

The net proceeds to Mobileye, after deducting underwriting discounts and commissions and estimated offering expenses payable by Mobileye from the initial public offering, including the exercise of the underwriters' option to purchase additional shares, and the previously announced private placement is approximately $1.0 billion. A significant portion of the net proceeds is being used for repayment on a note owed to Mobileye's parent company, Intel Corporation, and Mobileye intends to use the remaining net proceeds for working capital and general corporate purposes.

Goldman Sachs & Co. LLC and Morgan Stanley acted as joint lead book-running managers for the offering. Evercore ISI, Barclays, Citigroup, BofA Securities, RBC Capital Markets, Mizuho, Wolfe | Nomura Alliance and BNP PARIBAS acted as book-running managers for the offering. Cowen, Siebert Williams Shank, PJT Partners, MUFG, Needham & Company, Raymond James, Loop Capital Markets, Blaylock Van, LLC, Academy Securities, Drexel Hamilton, Independence Point Securities LLC, CICC, Cabrera Capital Markets LLC and Guzman & Company acted as co-managers for the offering.

A registration statement relating to the shares being sold in this offering was filed with the Securities and Exchange Commission and became effective on October 25, 2022. The offering was made only by means of a prospectus, copies of which may be obtained from: the SEC at www.sec.gov, and from: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, or by emailing [email protected]; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Mobileye

Mobileye is a leader in the development and deployment of advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions. Mobileye pioneered ADAS technology more than 20 years ago and has continuously expanded the scope of its ADAS offerings, while leading the evolution to autonomous driving solutions. Mobileye's portfolio of solutions is built upon a comprehensive suite of purpose-built software and hardware technologies designed to provide the capabilities to make the future of ADAS and autonomous driving a reality. These technologies can be harnessed to deliver mission-critical capabilities at the edge and in the cloud, advancing the safety of road users, and revolutionizing the driving experience and the movement of people and goods globally.

"Wolfe | Nomura Alliance" is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura Securities International, Inc. and WR Securities, LLC are serving as underwriters in the offering described herein. In addition, WR Securities, LLC and certain of its affiliates may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with this offering.